Arrow Pharma acquires Australian operations of Amneal Pharma

PTI, Updated: Aug 31, 2017, 07.22 PM IST

Arrow Pharma acquires Australian operations of Amneal Pharma

Advertisement

NEW DELHI: Drug firm Strides Shasun today said its arm Arrow Pharmaceuticals has acquired Australian operations of Amneal Pharmaceuticals for a total consideration of AUD 17 million (over Rs 85 crore).

The acquisition would accelerate Arrow's market reach and will help in attaining a leadership position in the Australian generics market, Strides Shasun said in a statement.

Under the terms of the agreement, Arrow Pharmaceuticals will acquire 100 per cent of the issued capital of Amneal Pharmaceutical Pty Ltd Australia, it added.

"Arrow will incur an amount of AUD 17 million towards consideration, working capital and other estimated acquisition and integration related costs," Strides Shasun said.